5 Advantages of HRMS in Managing Your Remote Workforce
Today, when suddenly there is a need for a dynamic, remote work environment, advanced technological ecosystems and a workforce that constantly requires efficient strategies and processes, you need to be on your guard.
Unlike in the past, companies need to implement an HRMS or HR management system solution and be confident that they are meeting their redefined role.
According to a Forbes study, ... only 13% of companies have a single HR system, and on average companies have 3-4 different HR applications (e.g. one for HRMS, another for learning, another for recruitment).
This leaves room for companies to move to a more consolidated and integrated HR solution to create better talent analysis to transform their talent strategies and directly improve employee engagement and performance.
What are the key HRMS benefits for your external employees?
Automation of HR processes: Typical HR processes such as resource recruitment, payroll, performance management, etc. can be very time and resource intensive. Payroll management for a company with more than 50 employees can take more than two days, during which all HR personnel must work manually. However, when automated with an HRMS, the process takes only a few hours, with no or minimal human intervention. This allows your HR staff to focus on other important tasks, such as improving HR processes, corporate training, increasing employee efficiency, building an organizational culture, etc.
Find Out More.... Future of HR Management
Provision of Remote Access & Employee Self Service: One of the main tasks of a company's HR department is employee service, where HR staff must support employees with basic services such as process clarifications, creation of certificates and documents, etc. This is very cumbersome and time-consuming and leads to a loss of productivity for the HR manager concerned. An HRMS provides remote access and enables employee self-service, i.e. employees can create these documents themselves from any location by simply logging into the system with their access data. This saves time for both the employee and the HR department.
You May Also Want to Read... 9 Best Remote Working Tools for Working from Home (comparison)
Effective management of regulations: Most companies operate in a complex legal environment where they must comply with certain regulations, such as those of the tax and legal departments. An HRMS enables compliance audits to be conducted and can schedule alerts as needed to ensure that the company is always compliant, as non-compliance can prove extremely costly in terms of fines and penalties for non-compliance.
Eliminating human error: One of the biggest benefits of an HRMS is process automation. A carefully researched and implemented HRMS can help automate most payroll administration and filing tasks, which not only saves time, but also helps eliminate common errors such as incorrect payroll calculations, duplicate credit, missed deductions, etc., which can cost small companies up to $1,000 in penalties.
Fraud Protection: Research shows that companies can lose up to 5% of their revenue annually due to fraudulent transactions by employees. However, a well-implemented HRMS can help you save these revenues and the time required to process these claims because it is an integrated solution that makes it impossible for users to manipulate the system. Processes are marked, formats are defined and the system is integrated with existing financial, accounting and ERP modules to make the claim process seamless.